As you previously discovered in part one, of this ongoing series, (unfortunately), there are an awful lot of extremely hard working, dedicated entrepreneurs, who work way too hard in their businesses, instead of on them.
Would you not agree? And as a direct result, the Luke warm results they (far too) often, tend to receive on their outrageously expensive, traditional advertising/promotional campaigns, does very little, to relieve their ongoing stress levels.
Sadly, far too many aspiring entrepreneurs, don’t equate -constantly- growing, and reoccurring stress levels with struggling and or failing business ventures.
The two definitely go hand in hand.In the remainder of this post, (hopefully) you’re about to discover, exactly how, you can work smarter on your business, not just harder in your business.Sound good?
Ever Wonder How Or Why So Many Extremely Dedicated Entrepreneurs Say Very Little Bankable Results From Their Traditional Advertising Dollars?
The main point being, (sadly) far too many aspiring entrepreneurs,with ventures of all shapes & sizes, initially attempt, to rely on, outrageously expensive, traditional advertising/promotional campaigns, which (unfortunately) have to constantly be repeated, over and over, before the general public even remotely takes notice.
And the all too harsh reality of it is, the vast majority of extremely resourced challenged, small business owners and or service providers, simply can’t afford to go this route. And they definitely shouldn’t waste their financial resources, even if they have the money to do so.
There Really Are Some Simple And Effective Ways To Promote Your Business!
As you recall in part one, two local, extremely popular, women-s boutique store owners, used some extremely different approaches, in order to strategically get the positive word of mouth and buzz humming along.
Case in point;women-s boutique store owner (B.), relied heavily, on their tried and true, extremely popular, in store, monthly free drawing, (power list building 101) strategy, in order to systematically build, their VIP opt in email/mobile marketing list.
And simply by placing, a huge, ‘cant miss sign’, in the middle of their store(s), promoting their monthly free drawing, where each month, one extremely lucky, local female, who typically earns,high five or six figures a year.
Plus routinely socializes, with other local women who do the same. One of them, wins a beautiful, designer handbag, which normally retails, for anywhere between $950 -$1,250 dollars!
Can you say social media sharing frenzy?
The More Effective Your Led Generation Strategies Work The Less Money You Need To Waste On Outrageously Expensive Advertising Campaigns Of Any Kind!
For just a second, let’s focus on some hypothetical numbers, (just to) help you, further conceptualize, the true long term marketing potential, of this incredibly simple, market tested strategy.
First, let’s say on average, about 125 unique customers, enter the boutique each day.(Six days a week.And slightly more, during the end of the year holiday season.)
And 30% of them (or) 37.5 (or 37 first time, walk in visitors, as a practical matter.(125 x .30% = 37.5) And on average, 80% of all of them, enthusiastically enter your monthly free drawing!
Which means, you add -on your typical day-, at least 100 brand new, VIP opt in email/mobile subscribers to your list per day.(Way too go!)
So on any given six day week, you add about 600 new subscribers. And over a 52 week year, you add about 31,200 subscribers annually.
And (on average), about 80% remain on your list, while 20% per year, for whatever reasons, decide to unsubscribe. (31,200 x 80% annual retention rate = 24,960.)
Your Small Business Marketing Plans Offers Tons O Potentially Profitable Marketing Options!
Remember, once a month, only one extremely lucky winner, gets awarded the 1st grand prize, correct? Which means, the other 99%, wins some extremely valuable, secondary prizes valued at X! (And rest assured, through inexpensive testing and A/B split testing strategies.
X is constantly changing!This being the case, here’s the first, rather inexpensive, positive generating word of mouth marketing strategy, you might employ.
As soon as the 1st grand prize winner comes in to enthusiastically claim her prize! You (and or) highly trained staff, will immediately make her a irresistible offer, (no mere mortal) can refuse! She can immediately purchase, a send designer purse, with a minimum value of at least $500 dollars, at just 15% over your actual cost!
Plus, when they do so, they automatically receive, a free 16 oz. bottle of one of your very best selling, top end perfumes.And they get to choose which fragrance they want!
Keep Investing More To Constantly Develop Your Entrepreneurial Skills!
Next, inside both designer hand bags, will be 15, extremely time sensitive, first time, brand new customer only, two sided, discount coupons.For them to share with their, sisters, sister in laws, closet girlfriends, co-workers, neighbors, immediate supervisor(s), bosses, bosses wife and or neighbors etc.
And the 99% of that particular months runner ups.Not only will they save money off any purchases they make.But they will also receive an additional X% off their total bill, simply for bringing a friend whose at least 18, whose not currently a customer.
Plus, unbeknownst to these runner ups, they too, will be given the following, irresistible upsell offer!Simply for spending over $300 dollars (or X amount), they will automatically qualify, to purchase an extremely eye catching, $300 dollar a pair diamond studded earrings, for just $90 dollars total!
Plus any and all, applicable taxes and fees etc.Or if they prefer, they can spend just $500 dollars, and receive the exact same diamond studded earrings for free!
And the same 16.oz bottle of best selling perfume of their choice, at your actual hard cost.
Can You See And Appreciate How An Extremely Well Implemented Lead Generation Campaign Opens The Door To Endless Marketing Possibilities And Or Opportunities?
Keep in mine, the primary reason(s), you and or your major competitors, are able to be so creative, on the initial front end of your sales funnel, is because your ideal,-highly influential-, local female customer,has a current, total lifetime customer value metric, of at least $8,000 -$12,000 dollars, give or take over the next five to seven years.
Which really and ultimately means, the back end of your ongoing sales funnel, is worth an awful lot of money, don’t you agree?
Hopefully, this eye opening -marketing- exercise, has made it crystal clear, why so many extremely hard working entrepreneurs, of all shapes and sizes, continually miss the boat big time.
When it comes to maximizing the return, on their traditional advertising dollars! Don’t you agree?
P.S.Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below)
that you can apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series,
because it will help you increase your gross profits by as much as 25% in the next 90 days or less.